I attened two interviews and received two Wls(two leading biz schools in HK). In addition to those schools, I applied three third tier schools in US.I am doubting my qualifications for PhD. I don't know whether I should give up my hopes.
The HK offer accepted rate is very high. Moreover, the position of waiting list is very important. Sometimes, the number of people in the waiting list can be same as that of first round offers.
The key is how many students the department need this year. Since the committee knows that not all the guys in the first round can accept them, they send offers more than they need. I know a top 20 program of marketing in the states, they sent 5 in the first round although they indeed just need 1. Then only if all the guys in the first round turn the program down, people on the waiting list have chance.